Publication detail

Quarterly government accounts, 4th quarter 2008

In the 4th quarter of 2008, the financial balance of the general government (i.e. the central government, the social security funds and the local governments) amounted to 17 billion ISK in deficit or 1.2% of GDP and 10.9% of general government total revenue. This can be compared with a surplus of 1.5% of GDP and 12.2% of general government total revenue in the 4th quarter of 2007. In 2008, the financial balance of the general government was 17.2 billion ISK in deficit or 1.2% of GDP, which can be compared with a surplus of 5.4% of GDP for 2007 or 70.6 billion ISK.